Best Buy in talks with RPG for India entry

Best Buy, is planning to enter Indian market. It is said to be in talks with RPG Enterprises. Sources have confirmed that Best Buy’s executive vice-president (strategy & international) Kal Patel, has met RPG executives.

FILE - In this Nov. 23, 2013, file photo, shoppers enter a Best Buy in New York. In 2013, Best Buy slashed costs, ramped up employee training and matched online prices to draw customers into its stores. Best Buy has been stepping up its game as it faces competition from discounters and online retailers like Amazon.com. (AP Photo/Bebeto Matthews, File)

This interest is also because the government of India had said last year that it is planning to increase FDI in select retail segments like sports goods, electronics and building equipment. Mr. Patel is also said to have met the Commerce & Industry Minister Kamal Nath and Minister of State for Commerce & Industry, Ashwini Kumar, to talk about the issue of FDI in multi-brand specialty retail.